As the days for Bank of Uganda Deputy Governor Dr. Louis Kasekende come to an end, shocking facts continue to emerge on how he’s been hungry and greedy yearning to meet president Yoweri Museveni fot the renewal of his contract ending on January 13, 2020.
Latest and Shocking facts intimate that Dr. Kasekende had reached an extent of using the Catholic Archbishop Syprian Kizito Lwanga to help him meet the president.
According to an insider, the two recently went and had a Camp in Mbarara to meet the President but sadly, the mission failed. That not enough, the duo plotted another plan of secretly meeting the president and this second night, they slept in Masaka at Sendawula Home but still, it was unfruitful.
All this happening, the Question on every Ugandan mouth especially the Catholics is; why is Kasekende using Arch Bishop Cyprian Kizito Lwanga and the Church to Lobby for the renewal of his Contract?!
We’ve learnt that hopeful Kasekende has been waiting for any good response since Friday and nothing has been happening since the President has kept Ignoring him fully.
Dr. Kasekende has for long been accused of swindling BoU money and was also involved in the fraudlant sell of five banks on phone. “It was really too scandalous when a central bank that is managed by the more celebrated economists turned the whole thing into ruin and left Ugandans no excuse whatsoever to defend them. They looked like robbers moving assets. Kasekende should have given us the best he has. Kasekende, a celebrated Catholic to be undressed like this is sacrilegious” said a Legislator.
Recently, the Aruu Member of Parliament Odonga Otto, threatened to protest if Kasekende’s contract is renewed at Bank of Uganda.
Odonga expressed his threats to protest on twitter when he tweeted thus on Friday; “Dr Kasekende; it’s a national interest that you get the hell out of BoU just like President walked to fight corruption. We notify the police that we will seek a demonstration in Kampala and around BoU in an unlikely event that your contract is renewed. The Cosase report is clear,” the legislator said in a tweet on Friday.
Dr.Kasakende it is in national interest that you get the hell out of B.O.U just like President walked to fight corruption
We notify the police that we will seek a demonstration in Kampala and around BOU in an unlikely your contract is renewed.
The COSASE report is clear.— odonga otto (@odongaotto) January 10, 2020
Kasekende recently wrote to Finance Minister Matia Kasaija, who in turn wrote to the President about renewing Kasekende’s contract but the fountain of honour is yet to pronounce his position about the matter. “I’m still waiting for the president to decide because he is the appointing authority,” Kasaija told the media on Tuesday.
Other reports tells that Kasekende tried, but failed to meet President Yoweri Museveni in November to talk about the possibility of extending his contract, after the President rejected all his requests for audience.
Insiders intimate that the President could be still ‘widely consulting’ after it emerged that there are cliques [at the Central Bank, fighting to bring down each other]. The two camps are alleged to be around the Governor and the Deputy Governor.
Analysts contend that by extending Kasendeke’s contract for another five years Mutebile’s camp, whose contract expires in January 2021, would have lost the battle. And this may only worsen matters on Plot 17/19 Kampala Road.
To restore coherence and public trust in the Central bank, sources say, the President may choose to let the two bosses at BoU, go when their terms expire.
In June this year, Members of Parliament raised concerns over the incessant scandals plaguing BoU following the recent mishap in which a consignment of printed currency flown into the country included extra cargo not on the bank’s documentation.
The scandal led to State House’s anti corruption kingpin Edith Nakalema move to arrest several bank officers, although their supervisors weren’t booked.
The legislators hinted on the unsatisfactory behaviour of the Bank of Uganda (BoU) in response to a report presented by the State Finance Minister for Planning, David Bahati, noting that not so long ago the Bank was under investigation for erroneously shutting down commercial banks in the country, a drama that played out in broad daylight probe which exposed bank chiefs as incompetent and fraudsters.
Commenting about the illicit cash on the plane, Abdu Katuntu (Bugweri County) said that there are two conflicting narratives; one of extra cargo on a plane chartered for the exclusive use of BoU, which indicates a breach in contract; the second, that on the chartered plane, there was extra cargo which was also printed currency but not destined for the BoU vault.
Dr Louis Kasekende’s letter to Finance Minister Matia Kasaija
“That second narrative is correct which is criminal and has wide implications on the credibility of our currency and the running of the Bank with the possibility of negatively impacting the economy,” he said.
Katuntu added that what is required at BOU is a structural overhaul because there is a problem.
“As if BoU has not learnt, it falls in the same problem. The other problem is that the Board of Directors does not report to anyone and therefore, they cannot be probed,” he noted, one of the key points noted in the Cosase report to Parliament after the BoU probe.
Katuntu said that there is need to go back to some of the recommendations made on BoU after the probe on illegally closing of commercial banks.
“Things like the Governor being the Board Chairman has to be changed; it means that he reports to himself and dictates how things should be run without being questioned,” Katuntu added.
He said that there are two factions; one for the Governor and the other under the Deputy Governor that are always fighting themselves because of succession.
He added, “The effects of what is going on at BoU is going to affect us all badly.”
Some Of Nasty Thing LOUIS KASEKENDE Allegedly Did At Bank Of Uganda
1. He has been Sheilding Mafias who stole 7 Banks. A confidential special audit report of the Auditor General (AG) revealed weaknesses in the management of Central Bank and questioned the Governor and his team for the hitches in the closure of at least seven commercial banks.
2. Kasekende ordered to Procument at Bank Of Uganda to Purchase pens worthy Shs357,000 Each.
3. He was involved in Smuggling 90Billion cash for his interest and was Chartered into the Country on a Private Jet.
4. Kasekende’s Wife Bank statements of Edith Kasekende detailing transfer of funds from China Railway Corporation totalling to 6Billion.
5. Kasekende was involved in the Unecessary Legal fees to MMAcKs Advoacates – Masembe Kanyerezi and David Mpanga.
6. He is further cited in Coniving With Justine Bagyenda Sold and transfered Banks on Phone Calls.
7. Kasekende ON 20th October 2016, Bank of Uganda said injected a tune of 478Bn for the purpose of liquidity support. Instead Money Was stolen In the Name Of Crane Bank and it was closed.
8. The AG also poked holes in the Purchase of Assets and Assumption of Liabilities (P&A) deal BoU officials Kasekende inclusive signed with Dfcu on January 25, 2017 for the purchase of Crane Bank Limited.
“I was not provided with the negotiation minutes leading to the P&A agreement. In the absence of the minutes, I could not determine how BoU selected the best evaluated bidder and how the terms in P& A were determined,” the report said.
9. Kasekende and his Team failed to recover Shs500b from defunct Banks. Kasekende and his team are also questioned on the expenditure of more than Shs478.8b they say was for liquidity support and other interventions in CBL after they took over the management on October 20 2016.
9. Closed banks were sold at 80% discount, yielding only Shs32b.
In the case of ICB, Greenland and Cooperative Bank, the total loan portfolio sold at Shs135b included secured loans of Shs34.5b which had valid legal, or equitable mortgage on the real property and were supported with legal documentation but were sold to Nile River Acquisition Company at a discount of 93 per cent.
10. Fraudently Transfered Meera Investments Properties To DFCU working with Jimmy Mugerwa,David Mpanga &Timothy Masembe.
11. At the End – Auditor General report noted that BoU did not carry out a valuation of the Crane Bank assets and liabilities but relied on an inventory.
